PalmPay – Loan details
PalmPay offers instant micro-loans to its 30M+ users via the PalmPay mobile app, with funds disbursed within minutes directly to your wallet.
Loan amount
₦2K – ₦100K
Interest from
3.50%
Term
14 – 91 months
Approval
Minutes
Pros
- ✓ 30M+ registered users in Nigeria
- ✓ Instant micro-loans within minutes
- ✓ Available for existing PalmPay users
- ✓ Low minimum loan amount (₦2,000)
- ✓ Free payment and transfer services
Cons
- ✗ Very short repayment periods (14-91 days)
- ✗ Maximum loan of ₦100,000
- ✗ Only available to PalmPay app users
- ✗ Higher interest rates vs. banks
Requirements
- Active PalmPay account
- Valid BVN
- Nigerian phone number
- Smartphone with PalmPay app installed
- Minimum age 18 years
- Regular PalmPay app usage
Company information
Transsnet Financial Nigeria Limited
Lagos, Nigeria
https://palmpay.com
This document is for informational purposes only. Always verify current terms and conditions directly with the lender before signing any agreement. CoolFinance.com.ng is an independent comparison portal operated by double technology s.r.o., Czech Republic.